Comments on: Barter Is One Answer For Restaurant Owners’ Challenges

By: Joe

Joe — Fri, 25 Jan 2008 16:00:35 +0000

Hi Bob,
Do you know if trade dollars paid as wages count toward federal and/or other minimum wage requirements? Perhaps there’s a solution for those restaurant owners who are required by law(s) to pay a minimum wage that exceeds what would otherwise be the free market wage in their city.
Your posts continue to inspire creative barter thinking. Thanks, Joe

By: Harold Rice

Harold Rice — Sat, 26 Jan 2008 17:35:41 +0000

While there is some discrepancy between states most do not recognize barter towards minimum wage.

Barter however IS a good way to pay staff benefits, thereby allowing you pay for chiropractic, dental, optometric expenses Etc. with before tax trade dollars.

And with a little bit of preparation you can use them to get full value for the
employee, be fully deductable for the employer, and income only to the doctor etc.

By: Bob Meyer

Bob Meyer — Sat, 26 Jan 2008 19:02:49 +0000

Harold, Thanks for your comments and assistance. (Harold Rice has been the source for tax advice within the trade exchange community. He is the Treasurer for the International Reciprocal Trade Association.)

By: Joe

Joe — Sat, 26 Jan 2008 22:53:08 +0000

Harold, Could you please let me know which states “recognize barter towards minimum wage”?

By: Bob Meyer

Bob Meyer — Sun, 27 Jan 2008 00:41:28 +0000

Joe, I think it would be better, easier for Harold, if you were to name the state you are from.

By: HaroldRice

HaroldRice — Sun, 27 Jan 2008 03:25:47 +0000

I do not know ALL of the state minimum wage laws and their local interpretation.

Since the laws and their interpretation are subject to changes, I would suggest that you get a copy for your state. I can have them reviewed if you need help. However there are so many ways to use barter to extend your cash flow and replace cash for employee benefits, that trying to avoid minimum wage requirements would not be the usage of choice.

By: How to Include Employees in the Credit Clearing Process « Beyond Money

How to Include Employees in the Credit Clearing Process « Beyond Money — Tue, 29 Jan 2008 18:01:06 +0000

[…] an article on this topic that appeared in BarterNewsBlog, Harold Rice says, “Barter however IS a good way […]

By: Bob Meyer

Bob Meyer — Tue, 29 Jan 2008 18:16:31 +0000

Tom, I agree with you, this topic does merit much more research and discussion. We intend to pursue it and hope others will provide their insights, observations, comments, and real-life experiences.